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The Law Office of Stephen Nault

Practice Area

Asset Purchase Agreement Attorney in Tennessee

In a business sale, the asset purchase agreement is where the deal's risk actually gets divided — what the buyer takes, what the seller keeps, and who is on the hook if a problem surfaces after closing. I draft and review APAs for small-business buyers and sellers so the diligence issues get handled in the document instead of in a post-closing fight.

This page covers a focused service. For the broader editorial practice area, see Business Contracts in Tennessee.

What the APA is really allocating

An APA is not just a transfer; it is a risk-allocation document. The pieces that matter are the definition of included and excluded assets, the representations and warranties and how long they survive, the indemnification baskets, caps, and time limits that decide who pays for what after closing, and any working-capital adjustment. Get those wrong and a clean-looking deal turns into a dispute months later over something the document should have settled.

The pieces around the agreement

A sale is more than the APA. The work includes the schedules and the ancillary documents — the bill of sale, assignment, non-compete, and transition agreement — and, on a sale of substantially all assets, the bulk-sale considerations, employee transitions, and assignment of leases and key contracts. The non-compete in particular has to be tied carefully to how the seller plans to continue in the market.

Buyer or seller, the APA should surface the issues before closing rather than bury them. That is the difference between a deal that closes clean and one that comes back.

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